What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian digital Financial, securities plus crypto trading web app that differentiates itself from its competitors by charging absolutely no fees.
A leading Canadian online financial services company founded in Autumn of twenty fourteen originally as a robo-advisor trading platform named Wealthsimple Invest, it has improved considerably over the previous 8 years to include Wealthsimple Trade, a zero fees discount brokerage service.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade allows consumers trade both individual stocks and also ETFs without needing to pay commissions. The exception is when trading stocks and ETFs which are listed in USD. In this case, they do charge a nominal currency conversion fee when buying and selling. However, past us are the days of paying Upwards of $7 per each trade with online discount brokerages as was the norm only a few years ago.
How Much Money Will I Need to Get Started With Wealthsimple Trade?
Wealthsimple is special in that they will allow Canadian investors to make a minimum deposit of only $1. The majority of traditional banks and discount brokerages have large minimum deposit amounts of $1,000-5K. This makes it hard for the every day new investor to start investing. With Wealthsimple Trade, you won’t have to be wealthy to begin trading stocks and ETFs.
But Does Wealthsimple Trade Have RRSP Accounts?
Yes. Wealthsimple Trade offers registered and non-CRA-registered accounts. One are free to choose both RRSP and TFSA account types in the setup process.
But Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade has a easy to use mobile app offered to download on both IOS and also Android. The mobile app makes the registration process and the trading of stocks and ETFs super painless.
Is Wealthsimple Trade Trustworthy?
For sure. Wealthsimple Trade is safe. Wealthsimple has more than 15 billion Canadian in Assets Under Management (AUM). They have been in business for more than 7 years and currently employs more than 600 people. The primary shareholder is the large public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the very first no-fee online brokerage to operate in Canada.
How Does One Fund a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it incredibly straight forward to deposit to an account. Simply connect the app to a chequing or savings account with your Trade account, and then fund your account in just a couple of steps. Deposits from banks to Wealthsimple usually take a few days. Funds can the same way can be moved to a chequing or savings accounts with the same steps.
What Additional Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – An alternative to Interac e-transfers that allows you to quickly and efficiently transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you require to prepare for this tax year and submit your tax return online free. It’s pitched as simple, accurate and always totally free tax return filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings account that lets you to get 1% cashback on your purchases, and also earn a very competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform that offers a variety of different courses on saving, investing, crypto, mortgages and more.
All of the listed features, along with Wealthsimple Trade may be accessed within the app and from their site with your Wealthsimple login.
How Can I Get Started Using Wealthsimple Trade?
Click here to create a Wealthsimple Trade account. For a special registration bonus offer to our readers you’ll get the equivalent cash value of a Canadian stock valued at up to $4,500 Canadian as soon as you add funds to your account.
So What if I Still Have Questions About Partner Bonus Wealthsimple?
If this review still hasn’t given you the answers to all of your questions, and you’re searching for additional specific information relating to Wealthsimple Trade Zone, visit the Wealthsimple website to get answers to each your questions.